TMG Partners has been in the business of developing award-winning, financially-successful, community-based real estate for 35 years. As much as we have accomplished over the last three decades, we believe it is the way we THINK about our region, the risks we manage, the critical timing of our projects and the value we create that sets us apart.

Localism

Real Estate is
a local business.

No, really.

We don’t fly in. We live here.

David CropperDirector of Development

The San Francisco Bay Area is an extremely diverse real estate marketplace with countless micro-business climates teeming with possibility. But you have to be here—and know here—to make the most of the opportunities all around us. Having been exclusively committed to the Bay Area for over three decades, we have developed a keen local intuition which gives us a unique advantage in recognizing both the opportunities and risks in this complex market.

Regionalism

We Think Mega

If we try to solve our land use problems by focusing only on the nine Bay Area counties, we will fail.

Michael CovarrubiasChairman & CEO

As the Bay Area’s economy has grown over the last three decades, so too has its challenges—particularly related to transportation, housing, affordability and climate change. To plan for growth of 4 million more people in the next third of a century, TMG is thinking bigger, beyond our nine Bay Area counties, and working on longer term strategies to create greater connectivity across our entire megaregion.

Timing

It’s got to work at low tide as well as high tide.

Some of our best deals are the ones we didn’t do.

Matt FieldChief Investment Officer

Almost anyone can make money in a positive economic climate. But it takes discipline, depth of market knowledge and experience in all major product types to know when to buy and when to sell. The most profitable deals can be the ones you decide just don’t make sense or are outbid by an “out of town” competitor. Because we are active in our markets on a daily basis, TMG Partners has managed a portfolio through 35 years of market cycles that works in all phases and has withstood the sands of time.

Vision

huh?

Once it’s obvious, it’s too late.

Cathy GreenwoldSenior Advisor

If you wait for the statistical proof to confirm real estate opportunities, you’re looking backwards. TMG Partners has cultivated an approach to studying the business landscape that reveals market opportunities before they become obvious. Our contrarian investment strategy balances optimism and caution with the intent of turning forward-looking investments into no-brainers.

Returns

Redefining IRR

Our measure for success goes beyond profit.

Lynn TolinChief Operating Officer

Most investment professionals have a clear understanding of IRR: Internal Rate of Return, a purely financial measurement of performance. At TMG we use a different definition. For us, IRR means balancing Integrity, Relationships and Results. We measure every aspect of our business through this lens to ensure our partners, communities, tenants and buyers are treated with the highest degree of respect and responsibility while we consistently deliver superior financial performance.

Driven by the prospect of a 2013 San Francisco America's Cup and Salesforce.com's recent $278 million land acquisition in nearby Mission Bay, the Port of San Francisco received an unexpectedly strong group of developers looking to take on one of the most challenging redevelopment plays in recent memory.

Pier 70, a big commercial development project south of AT&T Park, has drawn the interest of major South Bay developer The Sobrato Organization. It would be the developer's first venture in San Francisco, partnering with TMG Partners in a 50-50 joint venture.

TMG President Michael Covarrubias said, "(Sobrato's) breadth of tenants in the South Bay is staggering. We believe the migration for Silicon Valley companies to San Francisco will continue, and there are not too many places you can put 3 million square feet."

At stake is a major commercial opportunity in San Francisco: 3 million square feet of new office development, 700,000 square feet of rehabilitated historic space, 20 acres of open space, and 6,000 to 8,000 jobs.

The Sobrato family, which owns 8 million square feet of office space and 7,300 apartment units, is worth $2.5 billion, according to Forbes Magazine. Sobrato built the Apple Inc. and Netflix Inc. headquarters. The Sobrato Organization did not comment by press time.

"What a range of choices and very credible respondents," said Gabriel Metcalf, executive director of the San Francisco Planning + Urban Research Association. "I think this is very promising. The proposers are quite different so the port has a lot of different options to choose from. The proposals are from people who know how to do this. These are serious."

Covarrubias said they were very much motivated by the Salesforce deal in Mission Bay, where the cloud computing giant bought most of the remaining developable land.

Other prospective developers are Build Inc., which developed the Homes on Esprit Park project; Pacific Waterfront Partners, which redeveloped Piers 1½, 3 and 5 and is working with architect Skidmore Owings & Merrill; and the Mission Bay Development Group, a spinoff of Farallon Capital Management that is overseeing the redevelopment of Mission Bay. Phil Owen, president of Mission Bay Development Group, said it is working with equity partner Cherokee Capital, architect Perkins + Will, and Nibbi Construction.